Riyadh Cables Q1 2024 profit after minorities up 36% to SAR 170.2M

13/05/2024 Argaam Exclusive

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Riyadh Cables Group Co. reported a net profit after minority interest of SAR 171.2 million in Q1 2024, up 36% from SAR 124.9 million in the year earlier period, spurred higher revenue on increased sales volume.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	1,937.28	2,031.55	4.9 %
Gross Income	218.74	283.20	29.5 %
Operating Income	167.61	215.15	28.4 %
Net Income	124.92	170.22	36.3 %
Average Shares	150.00	150.00	-
EPS (Riyals)	0.83	1.13	36.3 %

Item	Q4 2023	Q1 2024	Change‬
Revenues	1,889.86	2,031.55	7.5 %
Gross Income	238.11	283.20	18.9 %
Operating Income	180.66	215.15	19.1 %
Net Income	134.15	170.22	26.9 %
Average Shares	150.00	150.00	-
EPS (Riyals)	0.89	1.13	26.9 %

On a sequential basis, net earnings grew 26.9% from SAR 134.15 million in Q4 2023.

Total shareholders’ equity, after minority interest, stood at SAR 2.43 billion as of March 31, 2024, compared to SAR 2.26 billion in the prior-year period.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	4,302.86	-	356.45	-	200.38	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	4,565.68	6.1 %	480.02	34.7 %	263.48	31.5 %
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	4,086.82	(10.5 %)	436.38	(9.1 %)	277.01	5.1 %
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	1,251.87	-	103.43	-	53.43	-
Q4 2021	1,396.15	-	129.56	-	99.27	-
2021	4,883.44	19.5 %	463.08	6.1 %	300.51	8.5 %
Q1 2022	1,561.18	-	151.85	-	101.57	-
Q2 2022	1,691.10	-	141.74	-	94.29	-
Q3 2022	1,769.30	41.3 %	163.92	58.5 %	109.26	104.5 %
Q4 2022	1,830.72	31.1 %	189.59	46.3 %	142.16	43.2 %
2022	6,852.31	40.3 %	647.10	39.7 %	447.28	48.8 %
Q1 2023	1,937.28	24.1 %	218.74	44.0 %	167.61	65.0 %
Q2 2023	1,917.53	13.4 %	236.71	67.0 %	157.60	67.1 %
Q3 2023	2,080.72	17.6 %	279.21	70.3 %	164.22	50.3 %
Q4 2023	1,889.86	3.2 %	238.11	25.6 %	180.66	27.1 %
2023	7,825.38	14.2 %	972.76	50.3 %	682.63	52.6 %
Q1 2024	2,031.55	4.9 %	283.20	29.5 %	215.15	28.4 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	4,302.86	-	356.45	-	200.38	-
2019	4,565.68	6.1 %	480.02	34.7 %	263.48	31.5 %
2020	4,086.82	(10.5 %)	436.38	(9.1 %)	277.01	5.1 %
2021	4,883.44	19.5 %	463.08	6.1 %	300.51	8.5 %
2022	6,852.31	40.3 %	647.10	39.7 %	447.28	48.8 %
2023	7,825.38	14.2 %	972.76	50.3 %	682.63	52.6 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	135.29	-	0.90	-	135.29	0.90
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	196.88	45.5 %	1.31	-	196.88	1.31
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	218.43	10.9 %	1.46	-	218.43	1.46
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	36.16	-	0.24	-	36.16	0.24
Q4 2021	84.89	-	0.57	-	84.89	0.57
2021	239.83	9.8 %	1.60	-	239.83	1.60
Q1 2022	85.01	-	0.57	-	85.01	0.57
Q2 2022	68.26	-	0.46	-	68.26	0.46
Q3 2022	92.73	156.4 %	0.62	20.48	72.25	0.48
Q4 2022	106.32	25.3 %	0.71	0.36	105.97	0.71
2022	352.32	46.9 %	2.35	20.84	331.48	2.21
Q1 2023	124.92	46.9 %	0.83	(9.93)	134.85	0.90
Q2 2023	126.97	86.0 %	0.85	(5.33)	132.30	0.88
Q3 2023	132.73	43.1 %	0.88	(7.08)	139.81	0.93
Q4 2023	134.15	26.2 %	0.89	(10.95)	145.09	0.97
2023	518.77	47.2 %	3.46	(33.27)	552.04	3.68
Q1 2024	170.22	36.3 %	1.13	-	170.22	1.13

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	135.29	-	0.90	-	135.29	0.90
2019	196.88	45.5 %	1.31	-	196.88	1.31
2020	218.43	10.9 %	1.46	-	218.43	1.46
2021	239.83	9.8 %	1.60	-	239.83	1.60
2022	352.32	46.9 %	2.35	20.84	331.48	2.21
2023	518.77	47.2 %	3.46	(33.27)	552.04	3.68

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	8.28 %	6.15 %	3.14 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	10.51 %	7.27 %	4.31 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	10.68 %	8.34 %	5.34 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	9.48 %	7.49 %	4.91 %
Q1 2022	-	-	-
Q2 2022	8.92 %	6.85 %	4.65 %
Q3 2022	9.15 %	7.31 %	4.84 %
Q4 2022	9.44 %	7.46 %	4.84 %
2022	9.44 %	7.46 %	4.84 %
Q1 2023	9.88 %	8.00 %	5.28 %
Q2 2023	10.85 %	8.61 %	5.97 %
Q3 2023	11.90 %	9.08 %	6.60 %
Q4 2023	12.43 %	9.41 %	7.05 %
2023	12.43 %	9.57 %	7.05 %
Q1 2024	13.10 %	9.90 %	7.42 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	8.28 %	6.15 %	3.14 %
2019	10.51 %	7.27 %	4.31 %
2020	10.68 %	8.34 %	5.34 %
2021	9.48 %	7.49 %	4.91 %
2022	9.44 %	7.46 %	4.84 %
2023	12.43 %	9.57 %	7.05 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	8.26 %	-	2.89 %
Q4 2021	9.28 %	8.81 %	6.08 %
Q1 2022	9.73 %	7.52 %	5.45 %
Q2 2022	8.38 %	6.52 %	4.04 %
Q3 2022	9.26 %	6.70 %	4.08 %
Q4 2022	10.36 %	9.01 %	5.79 %
Q1 2023	11.29 %	9.51 %	6.96 %
Q2 2023	12.34 %	9.09 %	6.90 %
Q3 2023	13.42 %	8.75 %	6.72 %
Q4 2023	12.60 %	10.37 %	7.68 %
Q1 2024	13.94 %	11.42 %	8.38 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	-	-	-	-
Q3 2020	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	-	-	-	-
Q2 2021	-	-	-	-
Q3 2021	150.00	-	-	-
Q4 2021	150.00	-	-	13.57
Q1 2022	150.00	-	-	14.07
Q2 2022	150.00	1.83	1.83	12.78
Q3 2022	150.00	2.21	2.07	13.17
Q4 2022	150.00	2.35	2.21	14.14
Q1 2023	150.00	2.61	2.54	15.12
Q2 2023	150.00	3.01	2.97	14.21
Q3 2023	150.00	3.27	3.42	15.16
Q4 2023	150.00	3.46	3.68	14.98
Q1 2024	150.00	3.76	3.92	16.24

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	150.00	0.90	0.90	12.94
2019	150.00	1.31	1.31	12.79
2020	150.00	1.46	1.46	13.06
2021	150.00	1.60	1.60	13.57
2022	150.00	2.35	2.21	14.14
2023	150.00	3.46	3.68	14.98

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	15.43	16.40	2.56
Q1 2023	20.23	20.81	3.50
Q2 2023	21.75	22.03	4.60
Q3 2023	21.05	20.15	4.55
Q4 2023	26.77	25.16	6.18
Q1 2024	26.22	25.18	6.07

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	15.43	16.40	2.56
2023	26.77	25.16	6.18

Business Segments (Million)

Compared With The

Period	Cables and Wires	HV Projects	Other
Q3 2021	1,204.66	22.08	25.11
Q4 2021	1,372.71	16.66	6.79
Q1 2022	1,550.30	6.39	4.50
Q2 2022	1,666.11	19.40	5.59
Q3 2022	1,772.57	-	(3.27)
Q4 2022	1,783.67	44.14	2.91
Q1 2023	1,878.44	51.73	7.11
Q2 2023	1,880.78	27.76	8.98
Q3 2023	1,999.08	72.25	9.38
Q4 2023	1,823.78	66.15	(0.06)
Q1 2024	1,970.33	55.64	5.58

Period	Cables and Wires	HV Projects	Other
2020	4,009.91	20.39	56.52
2021	4,763.10	79.53	40.81
2022	6,772.65	69.93	9.73
2023	7,582.07	217.89	25.41

Analysts Estimates (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change‬
Average	145.29	170.22	17.15 %

Estimates vs Actual (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change
Value Capital	151.17	170.22	12.6 %
GIB Capital	148.00	170.22	15.0 %
Al Rajhi Capital	143.00	170.22	19.0 %
Riyad Capital	139.00	170.22	22.5 %

Financial Ratios

	Current
Market Cap (M Riyal)	17,550.00
Enterprise Value (EV) (M)	18,295.45
Shares Outstanding ((M))	150.00
EPS ( Riyal) (TTM)	4.66
Book Value (BV) ( Riyal)	17.64
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	24.70
P/E (TTM)	25.08
Price/book	6.63
Return on Average Assets (%) (TTM)	12.9
Return on Average Equity (%) (TTM)	28.4

Riyadh Cables Group Co. (RIYADH CABLES)

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Riyadh Cables Q1 2024 profit after minorities up 36% to SAR 170.2M

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Riyadh Cables Group Co. (RIYADH CABLES)

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Riyadh Cables Q1 2024 profit after minorities up 36% to SAR 170.2M

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2024

Revenue by Business Segment (Latest) 2024 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Riyadh Cables Group Co. (RIYADH CABLES)

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Business Segments (Million)